Bitcoin Returns to Rangebound Trading As Price Rollercoaster Subsides

Ticker

1 BTC = $33873.81 USD  (via Coinbase)
1 ETH = $2149.43 USD  (via Coinbase)
1 LTC = $124.14 USD  (via Coinbase)
Quotes delayed up to 2 minutes.

Kryptous

Crypto Coins News - Ratings - Reviews

1 News - 247 News - 247 Bitcoin - 1 Search

BTC - BCH - ETH - LITE - XRP

Buy Sell Trade Crypto Here

 

Global bitcoin prices experienced little volatility today – a notable contrast to the sharp fluctuations that have taken place over the last week.

Overall, the price of bitcoin rose to as much as $2,329.64, before falling more than 5{88c91daedd271a990a10650c05d769cae2765e0603edf30ca95f18704e5748e8} to $2,218.74 at 15:45 UTC, according to the CoinDesk Bitcoin Price Index (BPI). At the time of report, bitcoin prices had recovered somewhat, rising to $2,245.97.

In comparison, bitcoin prices experienced a notable rally last week, reaching almost $2,800 on 25th May, before plunging more than $400 to almost $2,350 less than four hours later, additional BPI figures show.

This price volatility continued after the sharp drop, as bitcoin recovered to $2,640 early on 26th May before falling once again, this time losing more than $700 and declining below $2,000 on 27th May.

Bitcoin prices bounced back the following day, rising to $2,320.82 at 09:30 UTC on 28th May.

Bitcoin’s recent price volatility has coincided with sharp fluctuations in the market capitalization of all public cryptocurrencies, which surged to $91bn on 24th May before plunging 40{88c91daedd271a990a10650c05d769cae2765e0603edf30ca95f18704e5748e8} to $57.3bn on 27th May.

At press time, this figure has recovered to more than $80bn today, amid strong gains in the price of ether, ether classic and others.

Balancing image via Shutterstock

Kryptous

Crypto Coins News - Ratings - Reviews

1 News - 247 News - 247 Bitcoin - 1 Search

BTC - BCH - ETH - LITE - XRP

Buy Sell Trade Crypto Here

 

Ticker

1 BTC = $33873.81 USD  (via Coinbase)
1 ETH = $2149.43 USD  (via Coinbase)
1 LTC = $124.14 USD  (via Coinbase)
Quotes delayed up to 2 minutes.

Leave a Reply